Could Amazon's rumored live TV service beat Apple to the punch?

Apple better hurry...

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Amazon is reportedly looking into creating a live online TV service, one that would rival cable companies, similar services, and beat Apple's own rumored TV streaming service to the punch.

The etailer, which has an on-demand video service, is said to have reached out to big-time TV players like CBS and NBCUniversal about providing the companies' content on its service, according to Bloomberg.

Amazon is still exploring the option, so there's a chance it may not go through with the service. Still, it's an intriguing possibility.

Not only would it add another offering to Amazon's already boisterous product and services arsenal, it could potentially arrive before Apple has a chance to launch its own service. It's been rumored the Cupertino firm has a live TV streaming service in the works, but its iPhone 6S launch event came and went with only a new Apple TV announced on the home entertainment front.

Amazon recently agreed to buy Elemental Technologies, a high-speed video encoding and transcoding software firm, which one analyst said gives the company the platform to transmit live TV online.